Niger State: Governor Bello Seeks House Approval To Access 280.5 Million Term Loan
The Speaker of the Niger State House of Assembly, Rt. Hon. Ahmed Marafa on Thursday, 10 November, 2016 read a letter from Governor Abubakar Sani Bello requesting for house resolution to access a 280.5 million term loan from First Bank of Nigeria PLC by Niger State Transport Authority.
The letter signed by Alhaji Abubakar Sani Bello reads "I write to intimate you of the on-going negotiation by the Niger State Transport Authority (NSTA) for a loan of N280,500,000.00 to be utilised towards procurement of thirty (30Nos) Toyota Hiace buses for their operations as well as insurance of same from First Bank of Nigeria (FBN) Plc".
The letter further stated that "the loan is offered at an interest rate of 18% p.a. over 36-month repayment period. It is secured by the domiciliation of all NSTA collections , and registration of the vehicles in the (joint) names of NSTA and FBN Plc".
The letter explained that "In compliance with the Constitution of the Federal Republic of Nigeria 1999 (as amended) , i wish to bring this matter to your attention and to seek your consent for this facility. A house resolution in support of the facility is therefore required".
The letter, appealing for the lawmakers usual cooperation towards building a bigger and better Niger state as championed by Governor Abubakar Sani Bello indicates possibilities of employment opportunities, Inproved IGR to mention but a few.
Consequently, the House unanimously approved the Request.